This application relates generally to financial transactions. More specifically, this application relates to methods and systems for coordinating pooled financial transactions.
There are numerous applications in which it is desirable for a group of people to pool their financial resources and to use the pooled resources towards a financial transaction. This may be illustrated with a specific example that is sometimes referred to in the Detailed Description of the Invention below when describing how certain aspects of the invention may be implemented in specific embodiments. Consider the case of John, who has learned that his father is terminally ill. John's father lives in a different country than John and John would like to visit his father, but is unable to afford the purchase of an airline ticket. There are various relatives who would be willing to provide financial support, but their ability to do so is complicated by the fact that they are geographically disperse, with some living in different countries than either John or his father. The ability of the various relatives to pool their financial resources is thus further inhibited by the fact that those resources are not even available in the same currency. There is a need for a simple way to coordinate the purchase of the airline ticket among the various parties.
Similar needs may arise in various other circumstances in which a group of people wish to pool their financial resources. Accordingly, there is a general need to provide a simple mechanism for coordination of pooled financial transactions.